Form 4: MGIC Investment Corp Director Sheryl L. Sculley Reports Acquisition of Shares and Share Units

Director Sheryl L. Sculley of MGIC Investment Corp reports acquiring common stock and share units through dividend reinvestment and participation in a deferred compensation plan.

Summary

• Sheryl L. Sculley, a director at MGIC Investment Corp, reported acquiring 127.746 shares of common stock through dividend payments on restricted stock units.
• She also acquired 99.971 share units through phantom dividend reinvestment and participation in the company's Deferred Compensation Plan for Non-Employee Directors.
• The share units are settled in cash based on the price of MGIC's common stock, unless a qualified election for later distribution is made.
• No price was paid by the reporting person for the shares or share units acquired through dividend reinvestment.

Sentiment

Score: 7

Explanation: The document reflects routine transactions by a director, indicating a neutral to slightly positive sentiment due to the alignment of interests through stock ownership.

Positives

• The acquisition of shares and share units through dividend reinvestment and deferred compensation indicates continued alignment of director interests with shareholders.
• The deferred compensation plan allows directors to accumulate share units, which are tied to the company's stock performance.

Industry Context

This filing is a routine disclosure of a director's transactions in company stock, which is common in the financial services industry. It reflects standard practices for executive compensation and alignment of interests.

Comparison to Industry Standards

• The use of restricted stock units and deferred compensation plans is a common practice among publicly traded companies, particularly in the financial sector, to incentivize and retain key personnel.
• Companies like Radian Group Inc. and Essent Group Ltd. also utilize similar compensation structures for their directors and executives.
• The reporting of these transactions via SEC Form 4 is a standard regulatory requirement for corporate insiders.

Stakeholder Impact

• The transactions have a minor positive impact on shareholders as they demonstrate the director's continued investment in the company.
• The use of deferred compensation plans can align the interests of directors with the long-term performance of the company.

Key Dates

Keywords

MGIC Investment Corp, Sheryl L. Sculley, Director, Form 4, Share Units, Common Stock, Dividend Reinvestment, Deferred Compensation Plan, Beneficial Ownership